MicroStrategy fell 2.35% in overnight trading, with Bitcoin falling back below $102,000 after Trump’s inauguration speech ended cryptocurrencies – MicroStrategy (NASDAQ: MSTR)

MicroStrategy Magnetic transmission technology Robinhood Markets shares fell 2.35% to $386.80 in overnight trading Tuesday as the cryptocurrency market reacted to the president. Donald TrumpThe inaugural address conspicuously omitted any mention of digital assets.

what happened: This enterprise software company has more than $45 billion in assets Bitcoin Bitcoin/USDThe company’s shares surged 8.04% to $396.50 on Friday amid optimism about Trump’s expected crypto-friendly policies.

CEO Michael Seiler On Friday, he attended the “Crypto Ball” where he met with members of Trump’s incoming Cabinet, fueling speculation about favorable cryptocurrency regulations.

However, Trump’s inaugural address focused on traditional assets, declaring the beginning of an “American Golden Age” – a formulation that sparked criticism from Bitcoin critics Peter Schiff to highlight the president’s apparent preference for gold over cryptocurrencies.

See also: Bitcoin, Ethereum, Dogecoin retreat from pre-inauguration highs as Trump skips crypto mentions: Analysts highlight BTC consolidating in $101,000 to $106,000 range

why it’s important: The omission of digital assets from the speech triggered a decline in the broader cryptocurrency market, with Bitcoin falling from $106,000 to $101,775.

The sell-off comes as Trump names names Mark Ujeda Serves as acting chairman of the U.S. Securities and Exchange Commission, succeeding Gary Gensler.

The company has been buying Bitcoin for ten consecutive weeks, according to its public disclosures.

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Disclaimer: This content is generated in part with the help of artificial intelligence tools, and is reviewed and published by Benzinga editors.